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Posted Wed, 16 Aug 2023 11:05:39 GMT by
Please can you give me some guidance on this, if someone has done well using their personal TikTok account and they want to incorporate would they have to value the business on incorporation. Can they actually transfer the image rights from a personal account to the limited company? Or would they have to setup a licence to for the company to use the personal account to make profits in its trade? Would any gains be subject or incorporation relief? Any direction would be helpful as I have looked at a number of articles and cannot find anything conclusive, I would assume this has already happened in the past with Youtubers.
Posted Wed, 23 Aug 2023 06:25:49 GMT by HMRC Admin 25 Response
Hi Gavin Anderson,
Firstly with regards to the valuation of the business this is more appropriate to my colleagues at Companies House.
If you are going to set up a company, you will need to go through incorporation.
Please see:
Companies House
With regards intellectual property, I would refer you to:
Intellectual property and your work
And finally with regards incorporation relief I would refer you to:
Incorporation Relief
If this information does not answer all your queries, I would suggest that you contact a professional accountant for further advice.
Thank you. 

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